· A quarter with high utilization and improved commercial terms across all
geographical regions and vessel segments
· The market continues to strengthen despite a challenging macroeconomic
environment.
· Operating income from continued operations for 1Q 2023 increased by 55 percent
to MNOK 1,363 compared to MNOK 882 in 1Q 2022.
· EBITDA adjusted from continued operations increased by 226 percent to MNOK 583
compared to MNOK 179 in 1Q 2022.
· The quarter experienced a negative impact on equity following the weakening of
NOK against USD, offset by gain on the sale of assets and reversal of
impairments.
· High utilization during the quarter at 88 percent for vessels in operation,
historically strong for the winter-season.
· The CSV Normand Jarl was sold in February 2023 at a gain of MNOK 450.
· The Company has signed an agreement with Tidewater Inc., dated 7 March 2023,
for the sale of 37 PSVs. The transaction is considered a strategic repositioning
of the Company as one of the main global owners and operators of high-end
tonnage of AHTS and subsea vessels.
Skudeneshavn, June 1st, 2023
Contacts
Lars Peder Solstad CEO, at +47 91 31 85 85
Kjetil Ramstad CFO, at +47 90 75 94 89
Solstad Offshore ASA
www.solstad.com
This information is subject of the disclosure requirements according to
the Norwegian Securities Trading Act section § 5-12.